Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has finalised planning for an exploration drilling program at the Hawkstone Prospect within its 100%-owned Tambourah Project in Western Australia, with execution expected to begin in early March. The upcoming campaign will represent the first exploration drilling in the area in about 55 years.
The program has been designed to optimally target an anomalous gold and copper trend at Hawkstone and is being handed to exploration consultants Apex Geoscience for imminent implementation.
Historical drilling was not assayed for gold.
Tambourah is located about 160 kilometres southeast of Port Hedland and comprises three granted tenements covering around 110 km², all held 100% by Riversgold.
Access is via the Great Northern Highway and Hillside-Woodstock Road, which passes through the project area.
Location of the Tambourah Project and key infrastructure.
Riversgold also highlighted the project’s position relative to regional processing infrastructure, noting it is around 100 kilometres southwest of the 2.4 Mtpa CIL processing plant at the Warrawoona Gold Project and about 120 km east of the Golden Eagle processing plant at Nullagine.
“We are very excited to be back on the ground at our Tambourah Project now that the summer exploration hiatus is coming to an end. We have instructed our consultant geological crews to execute our designed drill program and we look forward to testing this large, relatively unexplored, copper and gold trend, which has seen no drilling since the 1970-1971 campaign, some 55 years ago. Historically, our focus here was on the lithium outcrops in the north, however we are very optimistic that this drill program will finally open up Tambourah's significant gold and copper potential. We are aiming to be drilling here in early March," RGL chairman David Lenigas said.
Plan maps of the Tambourah Project illustrating the mineralised gold and copper trends.
Hawkstone targets historical results over 12km trend
The planned program is aimed at validating and extending historical exploration results along a 12-kilometre gold and copper trend, where priority targets include historical drilling and surface sampling.
Riversgold cited historical intercepts and rock chip results from the area, including:
- 30.5 metres at 1.1% copper; and
- rock chip grades up to 21.78% copper and up to 3.6 g/t gold.
Oblique view of the Hawkstone Prospect illustrating the mineralised gold and copper trend.
Approvals in place
Riversgold said drilling approvals are already in place, with the program expected to begin in early March.